FX forecast for June 2

Daring forecasts have appeared – among them those issued by analysts at the Swiss bank UBS, Bank of Tokyo-Mitsubishi and Commerzbank – predicting the euro to drop to $1.30 or even the $1.25 mark, Financial Brains director PhD Sveatoslav Mihalache told Info-Prim Neo. But Financial Brains isn’t that ‘optimistic’ about it. “Only after we see the euro pass the $1.3737 level, where the Fibonacci line stands at present, can we talk about a drop to $1.30”, says Mihalache. “In Moldovan lei, the $1.3737 level would translate to around 15.35”, he added. [EUR/MDL:] Even if the official rate for the European currency rose to 15.95 lei, the euro will trade today at rates which don’t differ much from yesterday: 15.60 – 15.65 (bid) and 15.72 – 15.78 (ask). [USD/MDL:] The US dollar will trade at 11.09 – 11.14 (bid) and 11.19 – 11.24 (ask). For further details visit www.fb.md